Government is focusing on the solar panels for a long time. This will save the domestic current consumption and will also support the government to make the electricity available at all the remote areas. Recently the government is planning to enroll tax free service for initiation of solar energy in different parts of the nation. The most important thing is that there are different supportive features that government is initiating and it is a long project that is extended to 2022. Government has the plan to undertake the project with a plan of arrangement of 97 GW of solar energy across the nation. Most importantly this one is a project that government is planning to put in the tax relaxation zone.
The project details
There has been News that government has initiated the green bond for the projects and government is aiming to collect 500 million dollar for the project. From other sources, news has been collected that government has already collected near about 150 million dollars from the green bond. The entire fund is to be used in the solar energy system and that is going to be used in the system to complete the project within 2022. Initially it was thought that the collection will be made through the banks, but the banks have reached the exhaustion limit by sourcing fund to the corporate farms for the renewable energy. In India, the renewable energy is still categorized under the power sector and thus the government found no way out from the power management sector. Thus they have to go for the green bond to collect amount to convert this project.
Most importantly this project will provide an easy solution to the companies and to the domestic users. This will generate the chance for them to get the support of the backup electricity consumption in their day to day life. Thus this is a welcome project from the government. States like MP and Rajasthan have started working on them and some of the major projects of 700 and 500 megawatts are to be completed at the end of this year. Thus the effect of the better facility of electricity management will be visible at the end of this year in major parts of the project.
The policy of the government to make it tax free will be another support for the consumers of the energy produced thus. The only need now is the awareness programs and government has taken many steps for that as well. Thus a new India can be found at the end of this year and of course after the 1922. This configuration will change the economical state of the nation too. India has to consume atleast 48 percent of the total electricity generated in the domestic use. The access of the solar energy in those areas will be helping the government to save the electricity consumption top a greater extent and thus the effect of them on the cost of living will also be reduced. Thus India is again going to get something that will help them to rejoice.